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State to borrow less than feared in 2011

The Local · 30 Oct 2010, 11:42

Published: 30 Oct 2010 11:42 GMT+02:00

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The German state's new debt in 2011 will be around €44 or €45 billion, rather than the €57.5 billion previously feared, according to a report in Saturday's Bild newspaper.

Quoting unnamed government politicians, the newspaper said that this significant reduction in projected debt was the result of a higher tax income and reduced interest payments.

The report also suggested that the government might not have to pay the €2-billion injection into the state health insurance system.

The Finance Ministry has already said the new debt for this year will be reduced to between €50 and €55 billion instead of €80.2 billion.

The news is likely to start a new debate on tax reductions within the coalition government, which is made up of the pro-business Free Democratic Party and the conservative Christian Democratic Union.

Story continues below…


The Local (news@thelocal.de)

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Your comments about this article

13:33 October 30, 2010 by William Thirteen
a tax cut might just be thing that saves this sorry, soggy coalition
13:58 October 30, 2010 by auniquecorn
The news is likely to start a new debate on tax reductions .

HAAAA Haaaaa Haaaa HHaaaaa Ha Choke, Cough,
10:46 October 31, 2010 by bugger
Germany gave only to Serbia 123 million Euro, instead to use it for Germans. Politicians in Serbia will steal that money for themselves. Here is news:

BELGRADE -- The German government has approved EUR 123 million in financial assistance to Serbia.

The projects regard infrastructure, sustainable economic development, better employment and public administration.

EUR 87 million will come from loans, EUR 14.65 million from donations and EUR 22 million from the German Development Bank, which will be meant for economic development.

Serbia's Deputy Prime Minister Božidar Đelić, German Ambassador to Serbia Wolfram Maas and Director General of the Federal Ministry for Economic Cooperation and Development Ulla Mikota signed an agreement on this in Belgrade on Thursday.

According to Đelić, Germany has invested about EUR 1 billion in Serbia's development in the past ten years, third of those funds were non-refundable, while the rest were very favorable loans.
09:56 November 3, 2010 by dbert4
I don't think that the FDP knows that a smaller deficit doesn't mean surplus. This talk of tax cuts are ridiculous.
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